Stocks, Bonds, Foreign Exchange and Commodities Outperformance Stocks, bonds, FX and commodities outperformed in 2019. Image: Deutsche Bank Global Research

Outperformance of the Biggest 10% Companies vs. Rest of the Market Chart showing that the biggest 10% of companies have significantly outperformed the rest of the market. Image: Societe Generale Cross Asset Research

S&P 500 and Large-Cap Funds Outperformance Over Benchmarks Only 28% of large-cap funds are outperforming their benchmarks this year. Image: Goldman Sachs Global Investment Research

U.S. Equity Market Outperformance According to Gavekal, U.S. outperformance is mainly cyclical, not structural, and best investment opportunities could be in non-US assets. Image: Gavekal, Macrobond

Hedge Fund Industry Outperformance – Negative over Past Decade The chart below shows how it’s hard to beat the market over time. Image: Greenline Partners LLC

Value vs. Growth and U.S. 30-Year Government Bond Yield The outperformance of U.S. growth stocks relative to U.S. value stocks suggests lower bond yields ahead. Image: BofA Global Investment Strategy

MSCI World Value vs. Growth Chart showing the record outperformance of Growth vs. Value since the Great Financial Crisis. Image: Goldman Sachs Global Investment Research

City Economic Surprise Index – U.S. Economy vs. Global Economy Nice chart showing that the U.S. relative economic outperformance. Image: Quill Intelligence, LLC

Does Berkshire Hathaway Still Have a Market-Beating Advantage Over the Long Run? We can ask ourselves if Berkshire Hathaway does still have a market-beating advantage over the long run, because Warren Buffett expects a very modest outperformance vs. the market over the next decade. But he can’t guarantee that, of course. Image: Financial Times